Thistle Pubs company put up for sale

PERRY GOURLEY

A SCOTTISH pub company which operates seven outlets across central Scotland has put itself up for sale.

The Thistle Pubs Company III was set up in 2006 under the Enterprise Investment Scheme (EIS) which offered tax breaks to investors in return for backing smaller companies. Thistle has built up an estate of pubs including The Steading in Edinburgh, The Clockwork Beer Company in Glasgow, the Dog House in Balloch, Loch Lomond and The Wheel Inn in Scone. The pubs are managed by Alloa-based Maclay Inns.

In a statement to the stock market yesterday the investment company said that as the holding period under the EIS rules had expired it intended to seek an exit for shareholders during the first half of this year.

It said if it fails to sell the company it would look to secure new management arrangements for the seven pubs.

Thistle is chaired by Angus Meldrum, who has previously chaired Belhaven Brewery and Maclay Inns Group and is a former managing director at Tennent Caledonian Breweries.

Maclay Inns currently operates 26 managed bars and inns across the country.

Its other sites include Bert’s Bar in Edinburgh and the Bank Cafe Bar in Glasgow.